Today's healthcare industry is not able to reach its full potential due to multiple system and geographical problems. Etheal is aiming to remove these bottlenecks and create a revolution in healthcare industry by creating a blockchain based platform for healthcare professionals.

Problems in today’s healthcare industry:

For Patients:

Cost of healthcare services is increasing rapidly.

Finding a trusted and affordable care provider is very difficult, especially in a new city.

It is not easy to find a specialist for a specific symptom.

Long wait list for treatment for known doctors

For Doctors:

Reaching relevant patients is very hard and expensive. Doctors are either not tech savvy or incur huge expenses in advertising their services via mediums like Google and Facebook advertising.

Building trust and reputation in patients is taxing and time consuming activity. However, that reputation is not transferable from one system to other. If the site in which the doctor builds his reputation goes bankrupt, all the effort to build a profile is wasted.

Doctor has no idea about the trust and authenticity of his patients. He doesn’t have much idea if the registered patient will show up on time or not and how good is he in making the fees payment.

Pharma Companies:

Reaching global and fragmented market is expensive. As per different researches, cost of medicine increases by 9–10 times due to cost in marketing and communication.

Reaching the healthcare professionals globally is very difficult and slow process. The use of Medical Representatives to promote the medicines is not only inefficient but also time consuming.

Reaching out a niche/fragmented segment of patients to do research is very difficult due to state boundaries/borders.

Solution from Etheal Ecosystem:

Etheal aim to create a blockchain based global list of healthcare professionals. Patients can search through the profiles of suitable healthcare professionals around the world, indexed by multiple parameters line area of focus, treatment method, peer review etc.

Smart contract driven transparent, transferable trust and review system that the users can trust while deciding the potential targets. The ETS (Etheal Trust Score) reflects a general reliability of trust address. It is based on believability score and based on meritocracy wherein if the user voted early for a topic that becomes popular then you get a higher score for that. It is similar to the fact that if you have invested early into BitCoins then you tend to gain much more. The ERS (Etheal Rank Score) reflects how much value the user has generated in the system by his or her actions. That may be writing a good content, showing up on time for scheduled appointments, getting good reviews, making payment on time etc.

Etheal provides an option where patients and healthcare professionals earn HEAL tokens by interacting with ads, surveys and research for Pharma companies.

For any payment processed in Etheal system, 15% will go to Weekly Contributors Endowment Fund (WCEF), which is distributed to the patients and healthcare providers for their contribution to Etheal ecosystem. This will ensure active engagements from Patients and Doctors in Etheal ecosystem.

Developer will be able to develop different value added application around the Etheal ecosystem just like for Salesforce which will augment the entire ecosystem.

Current Working Solution:

They have two working and popular website i.e. Doklist.com in Hungary and Doklist.com.br in Brazil. These healthcare comparison sites currently serve a staggering 2.5 Million visits a year.

Etheal aims to move the platform to ethereum based blockchain so as to achieve the above mentioned objectives. The ICO is aimed to raise fund for this transformation and other marketing activities to make the ecosystem popular and ubiquitous.

Business Model:

Etheal ecosystem will target 3 major areas to generate revenue and add value for its investors.

1. Medical Tourism:

Medical Tourism is a concept where people who live in one country travel to another country to receive medical, dental and surgical care while at the same time receiving equal to or greater care than they would have in their own country because of affordability, better access to care professional.

As per research Global Healthcare expenditure is expected to $8700 B by 2020.

(Healthcare expenditure growth)

And the Medical Tourism market is projected to grow to $540 B by 2025 with a staggering 25% CAGR.

Etheal aims to tap to this market and provide the best solution for the users wherein they can find and pay the medical services of trustworthy medical professionals across the globe at an affordable price.

2. Pharmaceutical Communication Research and Advertisements

Pharma companies spend huge amount of money for medical research and advertisement. Currently the expenditure is $27 B in USA alone. The cost of a medicine increases by 9–10 time because of the marketing expenditure incurred. Etheal system aims to provide a cost effective and efficient solution to Pharma companies there by bringing the medicine cost down.

3. Optimal Advertising Medium

Etheal system will provide a medium where physicals will be able to bid for featured list in searches. However, their quality score will not depend on fancy stuffs like website and SEO (which is the deciding factor in Google search) but on their quality of service which defined by ETS (Etheal Trust Score) and ERS (Etheal Rank Score).

Miami Ad School New York alumni, also Golden Effie Awards winner (the Oscar of Advertising Effectiveness). 10 years spent in the veterinary medicine and clinical research world.
Wanted to improve more than 1 life at a time, so he moved from healthcare to work as CMO on meaningful projects.
When he realized the impact he can have by advertisement is limited, he dreamt up to improve 1B people’s life by improving healthcare using his interdisciplinary skill and experience.
Regularly lectures in the biggest economics and communications universities in Budapest (Corvinus University and Metropolitan University) and a speaker in communication conferences.

VIKTOR TABORI

Co-Founder, CTO

Cyberpunk, hacker, polymath. At the age of 16 he wrote and designed his first turned-based strategy online game played by thousands of fans, which featured an ingame dynamic stock-market, and a complex Sybil-attack defense modul.
Viktor was a core member of organizers in the infant days of Hacktivity, the biggest IT Security Convention in CEE region.
He was the tech lead of full-refactoring and conversion-rate optimization of Szallas.hu (CEE accommodation service) codebase, which resulted in 2259% increase in revenue between 2009 and 2013, and ultimately resulted in winning Deloitte Technology Fast 50 award in CEE region twice.
Advocate of Empowerment, impatient against injustice in Healthcare.

LASZLO MARAI

Tech Lead

Full stack mobile & web engineer with 15 years of experience, serial entrepreneur, founder of 2 startups. Laszlo is a veteran Tech Lead and Engineering Coach (5/5 CodeMentor.io rating based on 127 reviews).
Laszlo was a Research Engineer at Nokia for 6 years, where he worked together with Adam Back. When Adam explained Hashcash and Proof-of-Work to Laszlo in-person, Laszlo got hooked on the idea of crypto-based decentralization.
Laszlo is an advocate of empowerment, equality and inclusion.

Expert in SEO and UX friendly frontend development. Gabor is a drone pilot by day, and he is obsessed with coding beautiful, seamless as helpful digital experiences by night.
Gabor firmly believes that there is always room to tweak usability, and he is fascinated to improve lives by using blockchain technology and smart contracts.

DORINA PARDI

Communications

Best website of the year award winner, and communication architect for the World's first Classical Music Talent TV Show with rapid progression to 100k Facebook Community.

Etheal aims to make the decentralized version of their current solution (doklist.com) which has 2.5M visits each year. This will take the solution to next level of growth and help achieve its full potential. Major project milestones are:

Create a blockchain based decentralized platform

(Etheal Ecosystem)﻿

Create a high quality of database of healthcare professionals and patients

Write a review

Disclaimer : Please note that we are not associated with the ICO nor are paid for this review. This is our personal opinion and investors are advised to do their due diligence before investing in the ICO.﻿

Healthcare Industry is one of the biggest sector from business and social impact point of view. Yet it has not able to reach its full potential due to multiple system and geographical problems. It is plagued by centralized and opaque systems around the globe that work in silos and in the best interest of few individuals. On the other hand the most significant stakeholders of the ecosystem i.e. patients, doctors and pharma-research companies suffer due to the bottlenecks faced. Etheal aims to remove these bottlenecks and create a revolution in healthcare industry by creating a blockchain based platform for healthcare professionals.

We have analyzed the ICO based on the below parameters:

1. Necessity or problem statement (12%)

2. White paper (9%)

3. Product Status (10%)

4. Team (10%)

5. ICO Pricing (7%)

6. Business Model/Revenue Source (15%)

7. Token Value Increment Options (15%)

8. Social Media Presence/Hype (10%)

9. Competitors (12%)

Below is the score we have given on each parameter and the overall score for the ICO.

Parameter

Total

Score

75.2

Necessity or problem statement

12

10.8

White Paper

9

8.1

Product Status

10

8

Team

10

8

ICO Pricing

7

4.9

Business Model/Revenue Source

15

12

Token Value Increment Options

15

9

Social Media Presence/Hype

10

6

Competitors

12

8.4

100

75.2

Please continue reading for detailed analysis.

1. Necessity or Problem Statement (12%)

Major issues in the current healthcare system are:

For Patients:

Cost of healthcare services is increasing rapidly.

Finding a trusted and affordable care provider is very difficult, especially in a new city.

It is not easy to find a specialist for a specific symptom.

Long wait list for treatment for known doctors

For Doctors:

Reaching relevant patients is very hard and expensive. Doctors are either not tech savvy or incur huge expenses in advertising their services via mediums like Google and Facebook advertising.

Building trust and reputation in patients is taxing and time consuming activity. However, that reputation is not transferable from one system to other. If the site in which the doctor builds his reputation goes bankrupt, all the effort to build a profile is wasted.

Doctor has no idea about the trust and authenticity of his patients. He doesn’t have much idea if the registered patient will show up on time or not and how good is he in making the fees payment.

Pharma Companies:

Reaching global and fragmented market is expensive. As per different researches, cost of medicine increases by 9–10 times due to cost in marketing and communication.

Reaching the healthcare professionals globally is very difficult and slow process. The use of Medical Representatives to promote the medicines is not only inefficient but also time consuming.

Reaching out a niche/fragmented segment of patients to do research is very difficult due to state boundaries/borders.

There is a lingering demand from the stakeholders to solve these pressing issues that makes life of patients, doctors very tough. Etheal aims to solve this by creating a blockchain based healthcare platform that will not only have financial but also huge social impact on the healthcare ecosystem. There is an absolute necessity in the space of this kind of innovation and we like the concept. We give them 9 out of 10 for this.

2. White paper (9%)

You can go through their whitepaper in the ‘Details’ tab.

Very well written and exhaustive whitepaper with detailed information about the problem statement, Etheal ecosystem, Etheal Trust Score and Etheal Rank Score, Roadmap etc. They have a dedicated section of the technical architecture which you won’t find in many of the ICOs. We give it 9 out of 10 on this aspect.

3. Product Status (10%)

Though the platform is not yet developed, they have two existing websites www.Doklist.com and www.Doklist.com.br. They have decent traffic to these doctor listing websites and they plan to move this to blockchain as the first phase. Their roadmap is well defined and if implemented with decent adherence to timeline, it has a huge potential of success. .

Though we would have liked to have a hands on experience with the platform before rating the ICO (even if an alpha or beta version of it), I will buy the concept and give them 8 out of 10 for the product status.

4. Team (10%)

Both co-founders Dr. Milahy and Viktor has huge experience behind them and understand the healthcare sector pretty well. We had an interaction with Viktor about his vision and passion about the project and were amazed by his dedication and energy for the project. They have their development and marketing team well set. They also roped in acclaimed personnel like Prof. Bartha and Marcell Toth in their advisory board. In all a very well organized and capable team. We give then 8 out of 10 for team.

5. ICO Pricing (7%)

100 Million tokens at around $1 per token (ICO rate of 1 ETH = 1000 H and current Ethereum value of $1000 USD) makes the company worth $100 Million, which is on the higher side given that they yet to start the development the platform. Also there are other big players like Patientory and Medicalchain, which eventhough not direct competitors to Etheal, will play a role in success or failure of the project. However, when they announced their ICO, with Ether price of around $300, the valuation of $30 Million becomes more justified and attractive. I hope they will revise their Ethereum-HEAL conversion rate keeping in mind the skyrocketed Ether price. The only negative point is that all the unsold tokens will be kept and not destroyed which may go against the investors. The one thing I liked about their token sale is that there is no exorbitant bonus given at any stage of ICO which is good for investors.

We give 7 out of 10 for ICO structure and pricing.

6. Business Model/Revenue Source (15%)

Etheal will have primarily 3 revenue generating source.

Medical Tourism

Pharmaceutical Communication Research and Advertisements

Optimal Advertising Medium

Medical tourism will be a $200 Billion industry worldwide by 2020. If it is able to capture a 0.01% market share of this industry alone, then with a 10x claculation factors, it will make the valuation of the organization at around $ 200 Million, which itself will be a huge achievement for the start up. And we have not taken into account the other aspects like revenue from pharma companies and other advertising medium.

So if they are able to stick to their roadmap then they have a huge potential to generate multimillion dollar revenue for the investors. We give them 8 out of 10 on this aspect.

7. Token Value Increment Options (15%)

HEAL will be only medium of transaction in the Etheal ecosystem. So its demand will increase as more and more people start using Etheal platform. Also as there will be other peripheral applications built on top of the ecosystem, it will help increase the demand for HEAL tokens. As the usage of HEAL can easily be replaced by any other currency, including FIAT currencies, we don’t see any absolute need of HEAL tokens. I give them 6 out of 10 in this aspect.

8. Social Media Presence/Hype (10%)

This is one of the major aspects that they need to focus on to make the ICO succeed. Even if they have a great concept and team, somehow they are not able to market themselves well. Their social media presence is rather limited and groups are relatively less active compared to other good ICOs. The hype is pretty less and I give them 6 out of 10 in this aspect.

9. Competitors (12%)

There are many regional players in the space which are currently active in different specific regions. It will be very difficult for Etheal to compete and make a mark in the initial days. Also other players, based on blockchain, like Patientry and Medicalchain will also determine the level of competition that Etheal will face.

However, if they provide a decent service with ubiquitous platform then they will be able to easily penetrate the market and achieve their desired target.

Based on their roadmap and capable team, we hope that they will be able to fend of their competitor and capture market share. We give them 7 out of 10 in this aspect.

Based on our analysis we give a overall score of 75.2 out of 100 to Etheal which is decent rating.

It has a very good growth potential and less risk. You you are considering from medium to long term perspective, it will give you handsome return on the investment. So Etheal aims to create a blockchain based platform that can remove the bottlenecks faced in current healthcare industry and help millions of people who are currently affected by poor healthcare services.